Credit Bureau Operators seek more access to funds

The Presidential Enabling Business Environment Council as well as Operators in the credit bureau sub sector have expressed optimism that the Nigerian economy would soon record growth in access to credit.

This follows the two credit acts passed into law by the National Assembly.

Access to funds for starting or expanding businesses remains a major headache crippling growth of MSMEs.

Data show Small and medium scale enterprises account for more than forty five percent of Nigeria’s GDP. That input to national growth has been largely self-driven.

But there are renewed hopes that with the executive order easing access to credit, the economy will begin to benefit from pushing the boundaries growth even further.

Discussions at the National reporting conference by the credit bureau association of Nigeria focused on why access to credit remains critical to boosting finances.

With the added benefit of full financial disclosure expected from the two acts, small businesses might just be about to spring from unknown quantities into real drivers of the prosperity that Nigerians seek.